🧵🐋Unusual Whales Watchlist
Here's a thread detailing how I use @unusual_whales platform to assist in building my daily watchlist. Everyone wants to come into the day with a plan. Here's how I devise mine.
👇
Here's a thread detailing how I use @unusual_whales platform to assist in building my daily watchlist. Everyone wants to come into the day with a plan. Here's how I devise mine.
👇
Hot Chains & Tickers:
I start here. As an options trader, I am looking for the "hottest" tickers due to the idea of hunting volume and volatility.
I start here. As an options trader, I am looking for the "hottest" tickers due to the idea of hunting volume and volatility.
Hot Tickers:
These tickers are sorted by the largest options volume. Call Volume, Put Volume, Call Volume %, & Call Premium % are included in the analysis.
The percentages in parenthesis represent the current volume increase/decrease from the previous trading session.
These tickers are sorted by the largest options volume. Call Volume, Put Volume, Call Volume %, & Call Premium % are included in the analysis.
The percentages in parenthesis represent the current volume increase/decrease from the previous trading session.
For example, as you can see below $SPY was the largest traded name by call & put volume with 3.1M & 4.4M respectively. There was a 16.53% increase in call volume and a 15.15% increase in put volume from the previous day.
I always include my breadbasket stocks in my watchlist such as $SPY, $QQQ, $AAPL, $MSFT, etc. But I also like to look for unusual increases in volume during my scan to add tickers to the list.
These are some tickers that stand out to me with respect to what I am looking for on the Hot Chains & Tickers tab.
Something to note:
Just because a ticker has a large increase in options volume does not mean that it automatically gets added to my finalized watchlist. The chart also has to tell a story and intrigue me. Using UW is just an added tool to put tickers on my radar.
Just because a ticker has a large increase in options volume does not mean that it automatically gets added to my finalized watchlist. The chart also has to tell a story and intrigue me. Using UW is just an added tool to put tickers on my radar.
Hot Chains:
Hot chains portray options contracts that have unusually high volume and open interest.
Gives me an idea of options contracts targeted throughout the day/likely to be purchased.
Hot chains portray options contracts that have unusually high volume and open interest.
Gives me an idea of options contracts targeted throughout the day/likely to be purchased.
Volume vs Open Interest:
Volume: Represents the # of times an option contract has been traded in a specific day
Open Interest: The cumulative # of all options contracts.
You'll notice that OI is almost always larger than volume & that is because...
Volume: Represents the # of times an option contract has been traded in a specific day
Open Interest: The cumulative # of all options contracts.
You'll notice that OI is almost always larger than volume & that is because...
At the beginning of each day, volume resets to 0. (Specific day analysis). While OI does not reset to 0. Trading volume is typically much less than the cumulative total of contracts that are currently open.
Intraday Analyst is another tool that I love to use. I will save IDA in-depth analysis for another thread but will touch on it vaguely here.
Unusual Whales’ Intraday Analyst is a tool that shows you what is happening with a specific ticker at the moment.
UW main purpose - Provide Retail with Flow
Intraday Analyst - Real in-depth analysis of that flow
Most active chains
Historical flow
Volume & OI analysis etc.
UW main purpose - Provide Retail with Flow
Intraday Analyst - Real in-depth analysis of that flow
Most active chains
Historical flow
Volume & OI analysis etc.
I hope you guys enjoyed this thread and could take something of value from it. Later this week I will do the full in-depth Intraday Analyst thread.
As always, happy trading. 🐋
As always, happy trading. 🐋
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